MHMarkets:April 11, 2023-MHM European Perspective
Market Overview
On Tuesday, April 11, in the Asian session, spot gold fluctuated and rose. Currently, trading is near the 2000 level, and the pullback of the US dollar provides upward momentum for gold prices. Because the market is generally focused on the US CPI data in March released on Wednesday and the minutes of the Federal Reserve meeting. The market expects the year-on-year growth rate of the US CPI in March to fall to 5.2%, which will be a new low in the past two years and may strengthen the expectation of the Federal Reserve ending its interest rate hike cycle within the year, which will drag down the performance of the US dollar.
However, Christopher Wong, a foreign exchange strategist at Overseas Chinese Bank, said, "If the data is hotter than expected or indicates that the Federal Reserve may still raise interest rates again in May... The increase in gold has already been a bit excessive... The possibility of the Federal Reserve raising interest rates again may suppress the trend of excessive inflation
The median market expectation shows that analysts expect the overall inflation rate in the United States to increase by 0.3% month on month in March, while the core inflation rate will increase by 0.4% month on month.
It is expected that before the CPI data is released, there will still be further fluctuations in gold prices to adjust demand, and the possibility of further correction is not ruled out.
On this trading day, there is limited economic data, with a focus on the speeches of Chicago Fed Chairman Galls and Philadelphia Fed Chairman Huck, both of whom are members of the 2023 voting committee.
The Mohicans Markets strategy is for reference only and is not intended as investment advice. Please carefully read the statement terms at the end of the text. The following strategy update was made on April 11, 2023 at 15:00 Beijing time.
Intraday Oscillation Range: 1985-1998-2007-2016-2033-2046
Overall Oscillation Range: 1730-1756-1780-1801-1817-1833-1856-1873-1889-1903-1911-1929-1937-1951-1978-1985-1998-2007-2016-2033-2046-2057
In the subsequent period of spot gold, 1985-1998-2007-2016-2033-2046 can be operated as the bull and bear range; High throw low suction in the range, chase up and kill down outside the range!
Note: The above strategy was updated at 15:00 on April 11. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 23.1-23.9-24.5-25.3
Overall Oscillation Range: 19.7-20.1-20.6-21.5-22.3-23.1-23.9-24.5-25.3-26.1
In the subsequent period of spot silver, 23.1-23.9-24.5-25.3 can be operated as the bull and bear range. High throw and low suction in the range, chase up and kill down outside the range!
Note: The above strategy was updated at 15:00 on April 11. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 77.9-78.5-79.9-80.7-82.3-83.5
Overall Oscillation Range: 62.1-63.7-64.5-65.8-66.9-67.3-68.9-70.1-71.2-72.3-73.1-73.8-75.1-77.9-78.5-79.9-80.7-82.3-83.5-85.3-87.3-89.1
In the subsequent period of spot silver, 77.9-78.5-79.9-80.7-82.3-83.5 can be operated as the bull and bear range. High throw and low suction in the range, chase up and kill down outside the range!
Note: The above strategy was updated at 15:00 on April 11. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 1.0690-1.0755-1.0830-1.0950-1.1157
Overall Oscillation Range: 1.0290-1.0360-1.0460-1.0570-1.0690-1.0755-1.0830-1.0950-1.1157-1.1220-1.1303
In the subsequent period of EURUSD, 1.0690-1.0755-1.0830-1.0950-1.1157 can be operated as the bull and bear range. High throw and low suction in the range, chase up and kill down outside the range!
Note: The above strategy was updated at 15:00 on April 11. This policy is a daytime policy. Please pay attention to the policy release time.
Intraday Oscillation Range: 1.2250-1.2375-1.2400-1.2470-1.2550
Overall Oscillation Range: 1.1610-1.1830-1.1920-1.2030-1.2135-1.2250-1.2375-1.2400-1.2470-1.2550-1.27000
In the subsequent period of GBPUSD, 1.2250-1.2375-1.2400-1.2470-1.2550 can be operated as the bull and bear range. High throw and low suction in the range, chase up and kill down outside the range!
Note: The above strategy was updated at 15:00 on April 11. This policy is a daytime policy. Please pay attention to the policy release time.
